General Dynamics Canada, a business arm of
General Dynamics Corp.
), clinched an international multi-year contract for the delivery
of advanced acoustic processing systems, Vpx Enhanced Open
architecture Multi-static ("VENOM"), to the naval forces of
Republic of Korea. The contract value was undisclosed.
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The state-of-the-art acoustic processing systems will feature in
the Republic's P-3C Orion Maritime Patrol Aircraft upgrade
program. The company will supply 10 of these sonobuoy processors,
which will replace the current acoustic sensors under Lot I P-3C
of the upgrade program. The Korean Navy will use the VENOM
systems for maritime patrol missions.
The VENOM system is a cutting-edge processor which offers
underwater acoustic signal acquisition and processing
capabilities, automation as well as sophisticated tools that
allow operators to swiftly and accurately identify, classify and
track submarine movements under sea.
The compact size and modularity of VENOM's 3U VPX also makes it
suitable for airborne applications. The VENOM system will aid
operators to efficiently manage and analyze large volumes of
sensor data and will help present a comprehensive picture of
situational awareness as well as detect submarine threats.
The VENOM processor has been one of the company's prime marine
intelligence products for the last 40 years. The new high-tech
version was introduced in May 2013. Before this, General Dynamics
Canada also supplied acoustic processors under South Korea's "Lot
II" P-3 upgrade program.
General Dynamics is constantly developing its technological
expertise to stay ahead of the competition. The company secured a
sizeable mix of high as well as low value orders in the last few
months including the lofty $2.8 billion contract for the
construction of four Arleigh Burke-class destroyers for the U.S.
Navy. This will help keep the company's revenue stream stable
amidst the sluggish economic environment.
Currently, General Dynamics carries a Zacks Rank #3 (Hold). Other
defense counterparts worth considering at the moment are Zacks
Ranked #2 (Buy)
Lockheed Martin Corp.
Northrop Grumman Corp.
Huntington Ingalls Industries